XRP looks for a fresh surge to $0.70

Ripple’s XRP has been up in the last 24 hours, setting all the right tunes to further mark an uptick in its valuation. Sentiments have been optimistic on a macro level since the time Bitcoin Halving concluded. A fresh surge could be as high as $0.70 if all factors hold on to their seats. Whales and bulls will have to examine their transition to back the rise, and short-term traders could bring a slight sell pressure to take profits home.

For now, the next margin of  resistance is identified at $0.600. It could be achieved after two steps: $0.5650 and $0.5820. These are newly defined resistance levels for XRP after a noteworthy trade above the 100-hourly SMA, the Simple Moving Average. The XRP/USD pair’s 4-hour chart suggests a possible bull run in the near future.

Possibly as a result of the DOGE bull run, although there is no direct correlation, a significant portion of the price increase has been attributed to May. DOGE is a meme coin, so it continues to reflect the decent emotions of the crypto market. Bitcoin will lead XRP after Ether has taken its chance to touch the mark of $3,800.

XRP is poised to jump as high as $0.700 if it sustains a level of more than $0.3880. That is a positive zone for the crypto, with a resistance drawn at $0.450.

Whales could transition to accumulation instead of buying the dip. That will keep the trend steady until it reaches $0.50. Moments ago, XRP reached above the 50% Fib Retracement level with a downward move to $0.6420. It later swung to a low of $0.3875.

XRP is currently exchanging hands at $0.5464, with a drop of 0.05% in the last 24 hours and an increase of 9.29% in the last 7 days. The market cap and 24-hour volume have dipped by 0.13% and 14.01%, respectively. The XRP price prediction estimates that the crypto could end the year at $2.65. That could be an aggressive target, given the fact that XRP should have been hovering around $2 in April to achieve that margin.

The 4-hour MACD shows signs of gaining bullish momentum. The 4-hour RSI is above the 50-level mark. A total of three major support and resistance levels have been identified. The major support levels are at $0.540, $0.5150, and $0.4650. The major resistance levels are at $0.5650, $0.5820, and $0.6200.

XRP was at $0.80 in July last year, which is 2023. Almost a year later, it remains to be seen if Ripple can replicate that formation on the chart. If it does reach that value, small investors may sell off. It would then be up to whales and bulls to hold on to the fort.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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